Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Govt targets land supply, RMA to make houses affordable

Govt targets land supply, RMA, construction productivity and infrastructure in housing response

By Paul McBeth

Oct. 29 (BusinessDesk) - The government has released a raft of targets and new research projects in response to the Productivity Commission's report into the unaffordability of housing in New Zealand.

The National-led administration aims to make home ownership more affordable by increasing land supply, cutting the resource consent time for mid-size projects, lifting construction productivity and improving the infrastructure to manage new housing projects, Finance Minister Bill English said in a statement.

"High housing debt diverts money from more productive investments, contributes to New Zealand's significant overall level of indebtedness and exposes taxpayers to growing demands for State assistance with housing costs," English said. "Those factors make it vital that housing becomes more affordable."

In April, the Productivity Commission made a slew of recommendations to improve housing affordability, and was especially critical of Auckland Council's proposed compact city approach which undermined that goal.

The government is looking at ways to assist Auckland's housing supply, and is considering legislative change to allow a faster adoption of Auckland' unitary plan to address that need.

"Many of the changes that will make a difference lie with councils, and the government expects them to share the commitment to improving housing affordability," English said.

As part of its response, the government will introduce a six-month time limit on council processing of medium-sized Resource Management Act consents to speed up developments including subdivision. It is also looking at ways to create a national or regional hub for consent authorities, and will consider setting up a rival agency.

"If implemented fully, today's announcements on housing affordability will reduce housing stress and enable the housing market to better meet the needs of middle and low income New Zealanders," English said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news